Suppose xyz hv a salary of Rs.20000.he wants 5000 advance on 25th march then we will make 3 entries.
1. On 25th march -
Advance salary a/c....dr. 5000
To bank a/c... 5000
2. On 31st march we will make entry as provision for salary.
Salary a/c.......dr. 20000
To prov.for salary a/c... 15000
To advance salary a/c... 5000
3. Suppose salary made on 10th april, then on 10th april we will make entry as
Prov.for salary a/c....dr. 15000
To bank a/c... 15000
Am i right???
Go to Gateway of Tally > Accounting Vouchers > F5: Payment. Click N: Nature of Payment > Advance payment under reverse charge to mark the voucher for advance payment. Select the Stock Item (goods enabled for GST) or Ledger Name (services enabled for GST), and enter the Advance Amount.